GoodRx upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Lisa Gill upgraded GoodRx to Overweight from Neutral with a price target of $10, up from $7, post the Q4 report. The company’s 2024 guidance represents a positive inflection point as it moves past several recent headwinds and is likely a conservative basis from a management team that have worked to establish credibility in their guidance, the analyst tells investors in a research note. As a result, the firm increased estimates and believes there is further sales growth in 2025. JPMorgan sees the overall value proposition for GoodRx as pharmacy costs continue to shift to the consumer and pharmacies attempt to capture potentially abandoned scripts.